MKT 385 (Prof. Hess) Marketing Plan Project Research Guide

Some Questions to Investigate (from Professor Hess):

1. Who are your client's direct competitors?
2. Which are your client's established competitors? Which are new or emerging competitors?
3. What do the competitors offer that the client doesn't?
4. What are each of the competitors' biggest strengths?
5. What are each of the competitors' biggest weaknesses?
6. What strategies are the client's competitors using to gain customers?
7. Is there anything that the competitors are doing that the client cannot?
8. Is there anything that the client can do that their competitors cannot?
9. What audiences are the client's competitors targeting?
10. What sort of content is each competitor producing?
11. What sort of social media presence (or digital marketing strategy) does each competitor have?
12.  What action should the client take to compete better

Research Industry and Competiton:

• Business directories such as Reference Solutions: search for companies in the same industry. Create a competitor heatmap.
• Industry Reports (often behind the paywall, Library provides access to the First Research Industry Profile)

Reference Solutions (formerly ReferenceUSA): Search millions of private and public businesses for information on the competition, business demographics, and target markets. Reference Solutions step-by-step guides, webinars, and training materials are available to help you better understand how to use the search features and produce a strategy at home, on the go, or at the Library.

Get Access to Reference Solution: Contact Librarian/your professor to Use Group Card No. or Get A Chester County Library Card

Reference Solutions Competitor Heat Map Example for Air Conditioning Contractors & Systems in Chester County:

To find First Research Industry Profile, conduct Keyword searches at the public website of First Research Industry Profile, and retrieve the NAICS industry code of the report. Navigate Mergent Archive->D&B Manuals--> First Research, and copy/paste the NAICS code from the website. Scroll to the right and see the PDF document for downloading. The Industry Report follows the following structure:

• Industry Overview
  • Competitive Landscape (competitive advantages)
  • Products, Operations & Technology
  • Sales & Marketing
  • Finance & Regulation
  • International Insights
• Quarterly Industry Update
• Industry Indicators
• Industry Forecast
• Industry Drivers
• Critical Issues
• Business Challenges
• Business Trends
• Industry Opportunities
• Executive Insight
• Call Prep Questions
• Financial Information
  • Company Benchmark Trends (Quick ratio, working capital turnover, etc.)
  • Company Benchmark Information (income statement, balance sheet, financial ratios)
• Industry Website